The Impact of Social Media Advertising on Mainstream Media

The Impact of Social Media Advertising on Mainstream Media

CHAPTER ONE

The objective of the Study

The main objective of this study is to investigate the impact of social media advertising on mainstream media. Specific objectives include to:

1. Determine the effect of social media on the performance of advertisement businesses in the leading media groups in Nigeria.
2. Examine the effect of interactivity of social media effects on the performance of advertisement businesses in the leading media groups in Nigeria.
3. Assess the advantages of social media advertising over traditional media in the advertisement business in Nigeria.
4. Investigate the impact of social media advertising on the performance of advertisement businesses in Nigeria.
5. Examining the impact of social media influencers on advertisement businesses in Nigeria.

CHAPTER TWO

LITERATURE REVIEW

Conceptual Review

Social Media Overview: Definition of Social Media

For some reason, the term “social media” has been criticised as misleading. Vaynerchuk (2015) asserts that social media is not media but rather a cultural revolution that was sparked by the internet. The term “social media” has also been criticised for being misleading because it is perceived as an anti-social instrument that discourages interaction between people who are nearby, leading to an increase in the number of solitary individuals (Lewis, 2016).

Frieze (2016), who thinks that social media’s isolation is just as important as its networking options, backed this position. Facebook and other social media platforms are interactive customer databases for businesses, claims Sugars (2018). Additionally, according to Ayhan (2019), the term “social media” is misleading because, by definition, all media is social. According to Nelsen (2017), social media is a misnomer to some extent because of its anti-social and anti-democratic traits. The phrase “social media” inevitably resembles phrases related to information technology. Such phrases can mean different things depending on who you ask (Beauchamp, 2016). In contrast to traditional media, which only distributes content and does not give users the option to edit it, social media refers to online media that promotes communication through the use of feedback and actively involves people in the creation and enhancement of the content (Bharucha, 2018). Furthermore, according to Kaplan and Haenlein (2018), social media might be seen as a collection of internet-based programmes constructed on principles resembling those of Web 2.0 technology, allowing for the creation and exchange of information or other user-generated content. They grouped social media into several categories, including blogs (individual/community), sites for group projects, virtual worlds (social/game), and social networking websites. The use of these virtual social environments for social media advertising is possible. Facebook is a wonderful example of social media because it has all the characteristics listed above and even more. Over the past ten years, social media in general has undergone various transformations, and as a result, social media networks have begun to gradually supplant traditional media. This invention has improved internet marketing by employing a variety of marketing techniques and strategies, creating limitless marketing chances(Kaplan & Haenlein (2018).

Social interactions between people have gradually changed as a result of modern technology. Web 2.0 technologies have led to the accessibility of social networking sites like Facebook and the ability for users to connect with nearly everyone on the planet. People are spending more time on social media platforms like Facebook conversing with one another and unintentionally leaving behind traces of their contacts, which are easily accessible to the administrators of these social media (Kaplan and Haenlein, 2018).

User-generated material is produced by users of social media platforms like Facebook, and it has become one of the highlights of online engagement transmissions (Lenhart et al., 2018). In 2011, Lipsman took into account the likelihood that social networking accounts for 1 minute out of every 6 online contacts. To establish long-lasting relationships with their clients, advertising has prioritised social media. About 215 of the 500 fastest-growing private companies in the United States in 2009 cited social media as being crucial to the marketing and sales of their goods and services, and about 340 of these companies agreed that they keep an eye on social media activity related to their brands’ goods and services (Misner, 2019).

The technological aspect of social media dynamics is particularly crucial because the platforms and technology that enable user collaboration, content production, and exchange on the interactive web are directly responsible for social media development. Solis (2007) asserts that social media has changed how people find, consume, and share news, information, and material. According to Solis, social media is a combination of sociology and technology that converts monologue (one-to-many) information flow into dialogue (many-to-many) (Misner, 2019).

₦5,000.00 – DOWNLOAD CHAPTERS 1-5 PROCEED TO DOWNLOAD Added to cart

 

CHAPTER THREE

RESEARCH METHODOLOGY

Introduction

The target demographic, sample size, study strategy, study design, population size, sampling technique and sample size are just a few of the strategies the researcher covers in this section. It also discusses the survey design, the rationale behind the design choice, and the research methodology.

Research Philosophy

This philosophy might be characterised as a way of using assumptions and beliefs about how knowledge develops. As a result, ontological and epistemological assumptions are the two main philosophical reasons that the majority of researchers apply in their research. The ontological assumption is more abstract and reality-based since it deals with the realities of the findings of a study. This suggests that researchers who use this concept view the world from a perceptible perspective tied to continuous changes and how their research subject is investigated (Saunders, Lewis & Thornhill, 2018).

Instead, the epistemological premise focuses on how well a researcher understands the idea of human knowledge and comprehension of problems (Saunders, Lewis and Thornhill, 2018). Additionally, epistemology explores complex and philosophical questions regarding the fundamental components of knowing and what generates data for investigation. However, this idea contains three components: positivism, realism, and interpretivism, all of which are prevalent in studies focused on business and management (Saunders et al., 2018). The positivist philosophical approach was used in this study’s data collection procedure. As a result, positivism is a research ideology that focuses on the techniques employed in studies to identify largely quantitative data, statistical knowledge, and information while taking the research’s assumptions, beliefs, and observations into account.

However, other research philosophies lacked the necessary components, which made it necessary to adjust the study’s content. On the other hand, the study might have incorporated the usage of other research philosophies for its data collection (Myers, 2018). For instance, if the study focused on interpretivism, it would demonstrate that the strategy used is consistent with the qualitative approach to data gathering. Additionally, there are larger propensities for bias based on the assumption that it adhered to the realism ideology. In contrast, if the research had followed the pragmatic premise, it would not have been possible because the data would have been gathered using such forms as justification and study components that were in line with the research questions. As a result, their study design process and positivist research philosophy served as the most useful tools for gathering primary data(Saunders, Lewis and Thornhill, 2018).

CHAPTER FOUR

DATA PRESENTATION, ANALYSIS AND DISCUSSION OF FINDINGS

This chapter encompasses the presentation of the data obtained from the administered questionnaire. The data are presented in frequency distribution tables and expressed in percentages. Regression and correlation estimates about the variables under investigation are estimated and interpreted appropriately. The findings of the analysis made are discussed in this section.

CHAPTER FIVE

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

Summary of Findings

87.2% of the disseminated questionnaires were returned completed, according to Table 4,1 above, while 12.8% were either not returned or not completed. This research demonstrates unequivocally that a sizable portion of the administered questionnaire was returned and filled out. As a result, the respondents were eager to take part in this poll. According to Table 4,2 above, 63.8% of the study’s participants were men and 36.2% were women. This suggests that a sizable portion of the study’s participants are men. Male respondents, therefore, showed greater interest in this study than their female colleagues.

According to Table 4.3’s breakdown of survey respondents ages, 20.3% were between the ages of 20 and 29; 52.3% were between the ages of 30-39; and 27.7% were between the ages of 40 and 49. This analysis reveals that the majority of the respondents sampled for this study were in the 30- to 39-year-old age range. As a result, responses to the research instrument used were collected from adults who were of legal age and in control of their minds. Their replies are thought to be consistent with what this study anticipates.

Table 4.4’s distribution of respondents’ educational backgrounds reveals that 3.8% had either an NCE or an OND, 67.7% had a B.Sc., a B.A., or an HND, 14.6% had a master’s degree, and 13.8% had additional certifications. The analysis performed, as shown in Table 4.4, provides evidence that a significant portion of the respondents sampled for this study is graduates of postsecondary institutions. This shows that graduates with a better knowledge of the topic were more likely to engage as responders in this survey.

According to Table 4.5, 13.8% of the respondents have one to five years of work experience, 59.2% have six to ten years of experience, and 26.9% have ten years or more of experience. According to this data, a significant portion of the respondents who took part in the study have worked for an average of 8 years. This suggests that the majority of the respondents to the study’s survey have more knowledge of the advertising industry in Nigeria. As a result, their responses are very consistent with the focus of the study.

According to Table 4.6, the Performance of Advertisement Business (POADB) minimum and maximum responses were projected to be 79 and 113, respectively. This variable’s estimated mean and standard deviation are 94.67 and 13.095, respectively. The dataset for this variable exhibits a 13.83% variation, according to the mean and standard deviation estimations. Interactivity on Social Media (INTOS) has a mean and standard deviation assessed at 103.17 and 16.092, respectively, indicating a 15.6% variation in the dataset for this measure. According to estimates, INTOS replies ranged from 84 to 122.

The dataset for this variable has a 14.86% variation, as indicated by the estimated Social Media Advertisement(SCMAD) mean and standard deviation of 96.67 and 14.362, respectively. The projected minimum and maximum SOMAD responses were 78 and 118, respectively. Social Media Influencers’ (SCINF) mean and standard deviation were calculated to be 114.83 and 11.286, respectively. This suggests a 9.83% variation for this variable in the sample. The minimum and highest estimates were calculated as 98 and 127, respectively. The projected minimum and maximum value responses for social media usage (SCMU) were 78 and 116, respectively. The mean and standard deviation corresponding to this variable were estimated at 95.67 and 14.487 respectively. This implies that a variation of 15.14% variation exists in the dataset for this variable.

According to the foregoing regression estimates in Table 4.7, there is a positive linear relationship between the variables Performance of Advertisement Business (POADB) and Interactivity of Social Media (INTOS). The regression parameter between these two variables was estimated at 0.146. Holding other factors constant, INTOS can specifically provide 14.6% of the performance of the advertising industry in Nigeria. The t-statistic relating to INTOS was estimated to have a significant value estimate of 0.750. This suggests that there is a substantial positive linear association between POADB and INTOS at the 5% level of significance.

With a significant t-statistic value of 7.74 and an estimated regression parameter of 0.298 between Social Media Advertisement (SCMAD) and POADB, At a 5% level of significance, our estimations reveal a substantial positive linear connection between SCMAD and POADB. In other words, the research has a 95% confidence level that SCMAD is responsible for 29.8% of Nigeria’s advertising industry performance. With a significant value estimate of 0.422, the regression parameter between Social Media Influencers and POADB was calculated to be -0.477. This suggests that, at the 5% level of significance, there is a substantial negative linear relationship between the two variables. The regression coefficient between Social Media Usage (SCMUS) and POADB was calculated to be 0.783, and the t-significant statistic’s value estimate was 0.508. This suggests that SCMUS and POADB have a meaningfully positive linear relationship. According to this analysis’s empirical findings, at a 95% confidence level, social media use improves the performance of advertising enterprises in Nigeria by roughly 78.3%.

The estimated value is 0.996 for the correlation coefficient between POADB, SCMUS, SCINF, INTOS, and SCMAD. This suggests that there is a strong correlation between the variables examined in this study. According to the projected R-square value of 0.991 (99.1%), social media usage, social media influencers, social media interactivity, and social media advertising account for 99.1% of the performances seen in Nigerian advertising businesses. The anticipated value of the adjusted R-square statistic was 0.956. This shows that even after adjustments, the independent variables were still able to explain 96% of the performance of the advertising businesses in Nigeria, leaving only 4% of these performances unaccounted for.

With a significant value estimate of 0.005, the strength of association between POADB and INTOS was estimated to be 0.944. This suggests that the two variables have a very strong positive association (POADB and INTOS). In other words, at a 5% level of significance, social media interaction contributes around 94% to the success of the advertising industry in Nigeria. With all factors held constant, the correlation coefficient between POADB and SCMAD was determined to be 0.976, with a significant value estimate of 0.001. This suggests that social media advertising accounts for 98% of the performance of the advertising industry in Nigeria.

A significant value estimate of 0.029 was used to calculate the correlation coefficient between POADB and SCINF, which was calculated to be 0.858. At a 5% level of significance, this suggests a very strong positive connection between POADB and SCINF. With a significant value estimate of 0.000, the strength of the connection between POADB and SCMUS was estimated to be 0.987. This suggests that, when other variables are held constant and significance is set at 5%, there is a very strong positive correlation between these two variables.

With a significant value estimate of 0.002, the strength of the connection between INTOS and SCMAD was found to be 0.962. This suggests that, at a 5% level of significance, there is a very strong positive and significant correlation between these two variables. A significant value estimate of 0.005 was used to calculate the correlation coefficient between INTOS and SCINF, which was calculated to be 0.941. This suggests that, when leaving other variables constant, there is a very high positive and significant correlation between the two variables at the 5% level of significance. It was calculated that there was a 0.965-degree relationship between INTOS and SCMUS, with a significant value estimate of 0.002. This suggests that, at the 5% level of significance, there is a very strong positive and significant correlation between the two variables.

The estimate for the strength of the relationship between SCMAD and SCINF was 0.934, with a significant value estimate of 0.006. At a 5% level of significance, this shows a very high positive and significant correlation between the two variables. With a significant value estimate of 0.000, the degree of relationship between SCMAD and SCMUS was estimated to be 0.992. This suggests that there is a strong positive correlation between the two statistically significant variables. With a significant value estimate of 0.010, the strength of association between SCINF and SCMUS was found to be 0.917. This indicates, with a 95% confidence level, that there is a very strong positive and significant correlation between the two variables.

Conclusion

Based on the statistical and empirical analysis carried out in this study, the following conclusion was reached:

1. There is a significant effect of social media on the performance of advertisement business in the leading media groups in Nigeria.
2. There is a significant effect of the interactivity of social media effects on the performance of advertisement businesses in the leading media groups in Nigeria.
3. There is a significant impact of social media advertising on the performance of advertisement businesses in Nigeria.
4. There is a significant impact of social media influencers on the performance of advertisement businesses in Nigeria.

Recommendations

1. A broad assessment of general social media activities needs to be conducted; this could start with having a formal education in the form of a degree, diploma and certificate programme in the major universities in the country. Seeing as Nigeria is a developing nation, another option would be to invite social media professionals to the country to advise and guide on how to utilize social media. This is because first-world countries have tackled social media and developed working strategies that could be important for the country.
2. Advertisers already utilising social media who are not engaging their customers in conversations or responding to complaints should change their attitude because the essence of social media advertising is for both advertisers and consumers to relate on a one-on-one basis about their products or services. Quickly responding to criticisms and concerns voiced on Facebook and Twitter can impress other Facebook and Twitter users and make them more disposed to follow a brand or see what other communication options are available to them.
3. While incorporating social media as part of their marketing strategies, there is a need for organisations to develop engagement strategies and learn how to operate through these new channels. Intending advertisers should formulate their social media strategies; appoint social media managers to manage their customers online before carrying out a social media campaign and invest the quality time required in social media advertising to be more successful.
4. Those business organisations who are yet to register their presence on social media because they are sceptical about the medium should embrace change bearing in mind that every innovation has its peculiar challenges, thus social media have come to stay.
5. Social media should be taken as a core department, essential to the growth of the organization. This is because the world is going digital and all efforts will soon, if not already, be put towards social media as a marketing tool. Key players responsible for developing, executing and monitoring the social media strategy needs to be defined;
6. The tone of the organization on social media should be identified beforehand and incorporated into the brand manuals and consequently a social media policy or set of guidelines needs to be drafted; the risks of social media participation need to be shared with the employees; and a social media agreement that employees can review and sign annually needs to create.  On the whole, Social media Marketing is an extremely powerful marketing tool that not every business knows how to use properly yet. It is still very new and it needs to be implemented through a real and concretely defined strategy. The few limitations and risks related to Social media marketing can seem scary and challenging, but they are only precautions to be taken on time to achieve complete notable success in the Social media strategy.
7. Organizations should use social media channels to spread awareness of the organization’s activities, and events and to promote its products and services, more so, to position its brand.
8. Social media can also be used for publicity of the organization and new initiatives for customer relations, enhanced job satisfaction, higher organizational commitment, lower absenteeism, higher retention rates, higher innovative behaviour and increased productivity.

Suggestion for Further Studies

Furthermore, the studies should focus on how individuals and organizations can invest in social media as a method of social media advertisement.

References

• Abidin, C. (2016). Aren’t these just young, rich women doing vain things online? Influencer selfies as subversive frivolity. Social Media + Society, 2(2), p.205630511664134.
• Abrifor, A. C., Oludele, M. S. and Soetan, D. O. (2019). Perception on the trend and patterns of youth criminality in Ibadan Southwestern, Nigeria. African Journal for the Psychological Study of Social Issues, 18(1), 72-83.
• Achum, N.C. (2018). The Dynamics Of Consumer Behavior. Lagos: Mac-Williams Publishers Limited.
• Akinola, A.O. (2018). Globalization, democracy and oil sector reform in Nigeria. Cham: Springer International Publishing.
• Aligwe, H.N., Ugochukwu, S.N & Nwafor, K.A. (2017). Knowledge And Patronage Of Online Advertised Products Among Social Media Users In South-East Nigeria. Middle East Journal Of Scientific Research 25(4) Pp 690 – 702.
• Alt, R.R.O. (2019). Social customer relationship management: fundamentals, applications, technologies. S.L.: Springer Nature.
• Andrews, L., Bianchi, C., Wiese, M., Cuneo, A. and Fazal E. Hasan, S. (2018). Segmenting brands’ social network site (SNS) consumers: A four-country study. Journal of International Consumer Marketing, 31(1), pp.22–38.
• Appel, G., Grewal, L., Hadi, R. and Stephen, A.T. (2019). The future of social media in marketing. Journal of the Academy of Marketing Science, [online] 48(1), pp.79–95. Available at: https://link.springer.com/article/10.1007/s11747-019-00695-1
• Archie, B. (2016). Tweeting situational awareness during the Sydney siege. Journal of Policing, Intelligence and Counter Terrorism, 11(1), pp.14–29.
• Arora, A., Bansal, S., Kandpal, C., Aswani, R. and Dwivedi, Y. (2019). Measuring social media influencer index- insights from Facebook, Twitter and Instagram. Journal of Retailing and Consumer Services, [online] 49, pp.86–101. Available at: https://reader.elsevier.com/reader/sd/pii/S0969698919300128?
• Ayhan, A. ed., (2019). New approaches in media and communication. Berlin ; New York: Peter Lang.
• Azfar, R. (2017). 50pc of millennial and Generation Z shoppers use social media while they shop: report. [Online]. Available at: https://www.retaildive.com/ex/mobilecommercedaily/50pcof-millennial-and-generation-z-shoppers-use-social-media-while-they-shop-report
• Bajpai, V. Pandey, S. & Shriwas, S. (2016). Social media marketing: Strategies and its impact. International Journal of Social Science and Interdisciplinary Research, 1 (7).
• Bandura, A. (2014). Social-learning theory of identificatory processes. Handbook of socialization theory and research, 213, 262.

₦5,000.00 – DOWNLOAD CHAPTERS 1-5 PROCEED TO DOWNLOAD Added to cart